Home / Personal Loans / Suncorp car loan looks competitive

Personal Loan Education

19/11/2009

A Suncorp secured car loan of $5,000 or more is currently charging a fixed rate of interest of 10.75 per cent, making it one of the most competitive loans in the marketplace right now. The comparison rate on a five year fixed term is 11.34 per cent.

There is an application fee of $175, monthly fee of $5 and an early termination fee of $300 which applies if the loan is paid out in less than 12 months. Loan terms vary from 1 year to seven years.

Conditional approval can usually be given 1 working day after the application is received. You can choose your payment frequency (weekly, fortnightly or monthly), term of the loan (1-7 years), and there are no penalties for extra repayments.

Source: Suncorp Bank

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Institution Product Rate (%) Details
Secured Car Loan $5,000 and over 9.75 Details
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Car loans are for 3 year fixed rate loans of $20,000. Personal loans are for variable rate loans of $10,000. Popular loans are from the top 15 leading banks & credit unions.